Ciena Co. (NYSE:CIEN) Stock Holdings Lessened by Schroder Investment Management Group

Schroder Investment Management Group decreased its holdings in shares of Ciena Co. (NYSE:CIEN - Free Report) by 17.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,238,020 shares of the communications equipment provider's stock after selling 257,615 shares during the period. Schroder Investment Management Group owned about 0.87% of Ciena worth $105,244,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CIEN. Greenleaf Trust boosted its position in Ciena by 2.8% during the 4th quarter. Greenleaf Trust now owns 4,978 shares of the communications equipment provider's stock valued at $422,000 after purchasing an additional 136 shares during the period. US Bancorp DE boosted its holdings in shares of Ciena by 1.5% during the fourth quarter. US Bancorp DE now owns 10,459 shares of the communications equipment provider's stock valued at $887,000 after acquiring an additional 152 shares during the period. Coldstream Capital Management Inc. boosted its holdings in shares of Ciena by 3.8% during the third quarter. Coldstream Capital Management Inc. now owns 4,742 shares of the communications equipment provider's stock valued at $292,000 after acquiring an additional 175 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Ciena by 0.7% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 31,897 shares of the communications equipment provider's stock worth $2,705,000 after acquiring an additional 220 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Ciena by 5.3% in the 4th quarter. CIBC Asset Management Inc now owns 4,469 shares of the communications equipment provider's stock worth $379,000 after acquiring an additional 226 shares during the period. 91.99% of the stock is owned by institutional investors and hedge funds.

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Insider Transactions at Ciena

In other news, SVP Jason Phipps sold 18,888 shares of Ciena stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $59.88, for a total value of $1,131,013.44. Following the transaction, the senior vice president now directly owns 89,258 shares of the company's stock, valued at $5,344,769.04. This trade represents a 17.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Brodie Gage sold 350 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $85.91, for a total transaction of $30,068.50. Following the completion of the sale, the senior vice president now owns 49,547 shares of the company's stock, valued at approximately $4,256,582.77. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,200 shares of company stock valued at $4,921,513 in the last three months. 0.93% of the stock is currently owned by corporate insiders.

Ciena Price Performance

Shares of NYSE:CIEN traded down $2.66 during trading hours on Friday, hitting $53.53. 5,780,351 shares of the company's stock traded hands, compared to its average volume of 1,996,188. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.72 and a current ratio of 3.55. The company's fifty day simple moving average is $75.40 and its two-hundred day simple moving average is $74.08. Ciena Co. has a 52 week low of $43.30 and a 52 week high of $101.44. The company has a market cap of $7.61 billion, a price-to-earnings ratio of 93.91, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15.

Analyst Ratings Changes

Several research analysts have commented on CIEN shares. Morgan Stanley decreased their target price on shares of Ciena from $80.00 to $76.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 12th. Stifel Nicolaus reissued a "buy" rating and issued a $82.00 price objective (up from $75.00) on shares of Ciena in a report on Tuesday, December 10th. Citigroup raised their target price on Ciena from $84.00 to $98.00 and gave the company a "buy" rating in a research report on Friday, December 13th. B. Riley reissued a "buy" rating and issued a $89.00 price target (down previously from $97.00) on shares of Ciena in a research note on Wednesday, March 12th. Finally, JPMorgan Chase & Co. raised Ciena from a "neutral" rating to an "overweight" rating and raised their price target for the company from $84.00 to $88.00 in a report on Tuesday, January 28th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $81.38.

Ciena Company Profile

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.